Vanguard Group Inc increased its holdings in shares of TIER REIT Inc (NYSE:TIER) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,296,821 shares of the real estate investment trust’s stock after purchasing an additional 195,055 shares during the quarter. Vanguard Group Inc owned approximately 9.83% of TIER REIT worth $127,653,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in TIER. Vanguard Group Inc. boosted its stake in TIER REIT by 3.8% during the third quarter. Vanguard Group Inc. now owns 5,296,821 shares of the real estate investment trust’s stock valued at $127,653,000 after buying an additional 195,055 shares during the last quarter. BlackRock Inc. boosted its stake in TIER REIT by 9.0% during the third quarter. BlackRock Inc. now owns 4,845,137 shares of the real estate investment trust’s stock valued at $116,767,000 after buying an additional 400,548 shares during the last quarter. Renaissance Technologies LLC boosted its stake in TIER REIT by 37.7% during the third quarter. Renaissance Technologies LLC now owns 1,275,000 shares of the real estate investment trust’s stock valued at $30,728,000 after buying an additional 349,113 shares during the last quarter. Northern Trust Corp boosted its stake in TIER REIT by 40.3% during the second quarter. Northern Trust Corp now owns 1,188,157 shares of the real estate investment trust’s stock valued at $28,254,000 after buying an additional 341,182 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in TIER REIT by 26.3% during the third quarter. Victory Capital Management Inc. now owns 857,018 shares of the real estate investment trust’s stock valued at $20,654,000 after buying an additional 178,257 shares during the last quarter. Hedge funds and other institutional investors own 70.46% of the company’s stock.
A number of equities analysts recently commented on TIER shares. Zacks Investment Research lowered TIER REIT from a “hold” rating to a “sell” rating in a research note on Friday, December 14th. ValuEngine lowered TIER REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $24.60.
NYSE:TIER opened at $21.53 on Monday. The company has a market capitalization of $1.17 billion, a PE ratio of 13.71 and a beta of 0.97. TIER REIT Inc has a 1 year low of $17.04 and a 1 year high of $24.98.
TIER REIT (NYSE:TIER) last posted its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The business had revenue of $54.83 million during the quarter, compared to analyst estimates of $53.90 million. TIER REIT had a return on equity of 1.79% and a net margin of 5.92%. On average, sell-side analysts predict that TIER REIT Inc will post 1.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 27th. Stockholders of record on Friday, December 14th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Thursday, December 13th. TIER REIT’s payout ratio is 45.86%.
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About TIER REIT
TIER REIT, Inc is a publicly traded (NYSE: TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. Our vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities.
Further Reading: Outstanding Shares
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